The one area of wedding planning that’s more prone to going wrong is managing the budget. Most couples, unless they have large pots of money to splash about, find that sticking to their budget is one of the most challenging aspects when it comes to planning for their big day. The thing to remember is that even a few small mistakes can put unwanted pressure on your wedding budget. We have seven of the most common wedding budget missteps for you so you know what to avoid:
1. Failing in Your Due Diligence
The very first step in planning a wedding is for the couple to have a special pre-wedding plan meeting to sit down and arm themselves with a clear understanding of what an average wedding costs. You need to know what vendors generally charge in the locations you have chosen for your special day. This gives you a ballpark figure to start with and a base from which you can begin planning your wedding budget. You can add or subtract as you go but stay close to the margins of your chosen figures.
2. Taking a Cursory Glance at the Fine Print
The bases of wedding plans are the contracts that pull the whole day together so don’t just take a cursory glance at the fine print and think it doesn’t matter because it will be all right on the day. Unless you read the fine print before you sign a contract for any aspect of your wedding day, you could find there are surcharges and extra costs, say, for a late start which means the band might have to stay past the allotted time at the reception. The florist might need to change the flowers on the day because a shipment didn’t arrive on time, and if the contract states that you will accept the changes and added costs, then you will have to pay more. It’s crucial that you fully understand all terms and conditions before signing off on a contract or agreement.
3. Over-borrowing For the Wedding
Everyone wants their wedding day to be the very best it can be, but that doesn’t mean it has to cost the earth. Even if you have the best online savings account with your bank, and you’ve saved a considerable amount but still need to borrow to cover for extras, many couples make two big mistakes. The first is borrowing more than you need, and the second is accepting the wrong kind of loan with high-interest rates or high fees and charges. Such choices can have a negative effect on the wedding and even the marriage itself, so who wants to start a wedded life on the wrong foot? To ensure you don’t overborrow or overcommit, you need to choose a repayment plan into the wedding budget itself, and only borrow from lenders who understand your financial needs. Remember, you might need funds for a home extension or renovation after you move in together.
4. Don’t Lose Track of The Spending
Every couple needs to keep track of every dollar spent on the wedding. Keep tabs on all the expenses, major and minor, because even small purchases add up and can be a bit of a shock when the expenses are tallied. To stay organised and to keep an eye on where the money is going, a good method is using a spreadsheet that can track every cent that’s spent at every stage. Always ask for the total cost, including VAT before you sign a contract for a purchase or a service.
5. Making an Emotional Purchase
Sticking to a wedding budget might feel as if you’re playing tug ‘o war between your heart and your head. It’s so easy to spend more than you budgeted for when that perfect item comes with a hefty price tag. So, try not to make emotional purchases, especially before you’ve finalised a date for the big day and before you have a guest list and a location decided upon. If you fall in love with something you hadn’t expected and you absolutely must have it, try to cut some fat from somewhere else to balance the budget.
6. Don’t Book Multiple Suppliers or Buy Multiple Supplies
If you’re a couple wanting to have a DIY wedding, you need to do a test run of the project before you buy the supplies you’ll need so you don’t buy too much of one thing and not enough of another. You need a total picture a cost before you lock it in; it’s too costly to book a venue and sign a contract and later realise you haven’t factored furniture hire into the equation. It’s best to work with one wedding hire business where you could get discounts and savings on delivery charges, for instance. Watch those devious little added cost that can send the budget south.
7. Don’t Make Invitation Mishaps
Many couples make the mistake of ordering wedding stationery before they have the guest list finalised, so it’s a waste of money. Another mistake is forgetting to write a reply address on the envelope and forgetting to add a stamp, which would be hugely embarrassing. Another thing to watch is typographical errors, misspelling people’s names. If you get a return to sender invitation, you have to use another envelope and address it correctly, which takes time and money.
A Dash of Sparkle wedding/event organisers and event styling director Idit Ginsberg and her team have a passion for organising events with flair using their creativity and excellent organisational skills which are the perfect combination for your ideal celebration. The blogs and monthly newsletters are filled with lots of great ideas, tips and suggestions. Contact us today for a free, no-obligation consultation on 020 8905 2908.
Alex Morrison has worked with a range of businesses giving him an in depth understanding of many different industries including house cleaning, financial support and health care. As the owner of Integral Media, he is now utilising his knowledge and experience with his rapidly increasing client portfolio to help them achieve their business goals.